Getting Your Money

Getting Your Money

Your Rights and Responsibilities

How financial aid will be distributed, how decisions on distribution are made, and the basis for these decisions.

How financial need is determined. (How costs for tuition, fees, room, board, transportation, books and supplies, personal and miscellaneous expenses are considered in your budget).

What resources (current assets, parental contribution, other financial aid, etc.) Are considered in the calculation of need.

How much financial need, as determined by the institution, has been met.

The details of the various programs in the student aid package.

What portion of the financial aid is a grant and what portion is a loan that must be repaid. For a loan, the interest rate, the total amount that must be repaid, and the date repayment is to begin.

Method of Disbursement

Disbursement of funds to eligible students is made in equal installments, one in the fall and one in the spring. Loan funds are always disbursed in two payments, even if you applied for only one semester.

Funds from the Federal Pell Grant, Federal Supplemental Educational Opportunity Grant, Texas Public Educational Grant, and the Federal Perkins Loan are credited to the student's actual costs at the time of registration. If the creditable amount of aid is less than the minimum due, the student must be prepared to pay the difference.

In those cases where the amount of aid applied exceeds charges, the balance will be paid to the student through the student's Bearkat OneCard profile. Students have two options for receipt of funds: (a) Bearkat OneCard deposit or (b) direct deposit to existing bank account. For more information on refund options, please contact the Bearkat OneCard office at (936) 294-2273.

Delayed Disbursement

Proceeds from the Federal Direct Loan may or may not be available during the late registration payment period. It depends upon whether or not the office has completed the loan certification process, which is different from being awarded a loan. It also depends on whether or not the government has processed the application and delivered the funds to SHSU. We encourage students to have alternate sources of funds available in case loan proceeds are delayed.

Refunds

When a student receives more financial aid than he or she has University charges, they may be entitled to a refund. When viewing the student's fee statement, this is indicated by a negative sign "-" preceding the total amount. When a student will receive the residual funds will be determined by the following:

Has the student's Bearkat OneCard been received?

If not, approximately three to four days after the student's financial aid has applied, a paper check will need to be picked up from the Bursar's Office.

Has the student's Bearkat OneCard been activated?

If not, the card will need to be activated using a link on the Bearkat OneCard website www.shsu.edu/onecard/.

Has the student selected their refund preferences?

If not, this is done in the Bearkat OneCard website. Students should click the 'Financial Refunds' link on the right side. There are two (2) options:

Higher One Account - Refunds will be available on student's Bearkat One Card approximately 4 business days after financial aid has applied to the student's account.

ACH Transfer - Refund will be electronically transmitted to bank of choice approximately 5 to 8 business days after financial aid has applied to the student's account.

Status

Preferences

No. of Business Days until refund is available

Bearkat One Card

Activated

Higher One Account

4 (after aid applies)

Bearkat One Card

Activated

ACH Transfer

5 - 8 (after aid applies)

Bearkat One Card

Not Activated

Default to paper check

Bursar's Office: 4 days (after aid applies)

Student Eligibility

All students receiving assistance from any of the federal and state financial aid programs must meet specific program requirements. Generally, these include being enrolled on at least a half-time basis (6 semester hours), making Satisfactory Academic Progress toward the completion of a degree, and being a U.S. citizen or eligible nonresident. Transient students are not eligible for aid.

Definition of "Transient Student"

Student attending SHSU now but seeking their degrees at another institution. (For example a student attending SHSU only during summer sessions) .

Withdrawing or Dropping Below 6 Semester Credit Hours

Withdrawing or dropping courses during the school year may result in accelerated repayment of financial aid. Withdrawing during the fall semester will result in the cancellation of spring financial assistance. Furthermore, dropping below six (6) semester hours may render applicants ineligible for funds not yet disbursed. For detailed information, refer to the Financial Aid Refund Policy.

Changing Schools

Financial aid does not automatically go with you when changing schools. You should contact the financial aid office at the new school as soon as you decide to transfer.

Where to Get Information

Key Advice

As a SHSU Bearkat, take advantage of all the programs, workshops, and publications available to you through FAO. Preparation and knowledge are the keys to any successful financial aid applicant! If you have questions, ask! We are here to serve.

The Financial Aid Office (FAO) at SHSU offers students information explaining financial aid and which form of aid they qualify to receive. Applying for financial aid can sometimes be a lengthy and confusing process, but SHSU offers several programs and publications to help students make sense of it all!

Publications

If it’s printed information you're after, FAO has that too! The Funding your Education Beyond High School (U.S. Dept. Of Education) is an excellent source for details on federal financial aid programs and the application process.

Interested in scholarships? SHSU Scholarship Information. Note: Applications for a scholarships at SHSU are unrelated to the application for financial aid.

Workshops

During Financial Aid Literacy Week in February, the Financial Aid & Scholarships Office promotes understanding of financial aid and the application process. Counselors are on hand to answer questions, as well as help applicants complete their financial aid applications.

Financial Aid & Scholarships also disseminates financial aid information and updates through the SHSU radio and television stations, which highlight facts and tips for students throughout the week.

Loan Counseling Programs

Pre-loan Counseling and Exit Counseling are two of the best programs to help students understand Federal Student loans. They are both offered online and are available year-round.

You MUST complete a pre-loan session before your loan information may be processed and guaranteed.